In November 2017, agricultural prices rose by 0.3% over one yearIndices of agricultural prices - November 2017

In November 2017, agricultural products prices increased by 0.3% over one year (after +0.5%). Excluding fruits and vegetables, they went up 1.2% over one year and 1.4% over one month.

Information : in accordance with the European directives, index of producer prices of agricultural products and indices of purchase prices of the means of agricultural production will be disseminated in reference year 2015=100 from March 6th 2018, release date of January 2018 results.

In November 2017, agricultural products prices increased by 0.3% over one year (after +0.5%). Excluding fruits and vegetables, they went up 1.2% over one year and 1.4% over one month.

Steady prices for cereals, increase in oilseeds

In November 2017, cereals prices were stable over a month. Soft wheat prices fell 0.2% after +0.4% in October. Dynamic demand from the Maghreb absorbs abundant supply. Grain maize prices gained 1.8% over one month as Ukrainian yields were below expectations. After three months of decline, oilseeds prices rebounded (+2.5%). The prices of rapeseed (+2.4%), sunflower (+2.8%) and soya (+1.8%) were sharply up, in the wake of oil prices.

Graph1 – Producer prices of cereals

  • Source: INSEE

Fresh vegetables prices droped over a year

In November 2017, fresh vegetables prices decreased by 19.7% due to the fall in seasonal produce prices (endives and cauliflowers). Demand has not kept pace with the seasonal rise in supply. Fresh fruit prices rose by 7.3% over a year; especially kiwifruit (+36.4%), grapes (+22.3%) and clementines prices (+8.1%).

Graph2 – Producer prices of fresh vegetables

  • Source: SSP (ministry in charge of agriculture)

Rise in animal prices

Animal prices rose by 0.9% in November 2017. Adjusted for seasonal variations, pig prices are up over one month (+2.9%) for the first time since April 2017. Over one year, they declined by 8.2%. After three months of increases, cattle prices were almost stable in November (-0.1%). They have grown by 6.7% over one year.

Graph3 – Producer prices of pigs and large cattle

  • Source: INSEE

Egg prices soared again

In November 2017, egg prices rose sharply (+22.0%) for the third month in a row. French origin was still very much in demand after the crisis of fipronil. The price of cow's milk partly benefited from the spike of butter prices : it increased by 15.4% over one year in October.

table1 – Index of producer prices of agricultural products (IPPAP)

Seasonnaly adjusted * - base and reference 100 in 2010
Index of producer prices of agricultural products (IPPAP)
Variation as % over
Weights Nov 2017 a month 3 months a year
Agricultural goods output 1000 117.4 /// /// +0.3
excluding fruits and vegetables 900 118.5 +1.4 +1.9 +1.2
Crop output (excluding fruits and vegetables) 505 117.7 +0.9 –1.4 –4.2
Cereals 188 97.8 0.0 –0.7 –5.4
of which soft wheat 112 94.9 –0.2 –0.3 –5.7
grain maize 41 91.7 +1.8 –0.2 –8.7
Potatoes 26 169.5 /// /// –30.7
Wines 177 140.0 +1.5 +5.1 +3.5
protected designation of origin 84 156.7 +1.7 +7.1 +6.5
other wines 23 138.5 +4.7 +8.2 –0.9
Oleaginous 49 96.6 +2.5 +0.6 –8.1
Horticultural products 30 111.2 –0.1 +0.9 +0.4
Other crop products 36 108.4 –0.5 –1.3 0.0
Fruits and vegetables (1) 100 107.4 /// /// –7.3
Fresh vegetables 53 90.7 /// /// –19.7
Fresh fruits 35 131.5 /// /// +7.3
Animal output 395 119.4 +2.0 +6.3 +8.5
Animals 234 114.6 +0.9 +1.3 +1.3
of which large cattle 96 122.5 –0.1 +3.3 +6.7
calves 26 108.7 +3.0 +10.0 +4.1
pigs 54 108.0 +2.9 –3.6 –8.2
sheep 10 118.5 +1.1 –2.9 +1.3
poultry 46 108.7 –0.2 –0.4 –0.2
of which chicken 28 108.6 –0.2 –0.4 –0.1
Milk 147 113.5 /// +3.5 +12.5
of which cow milk (2) 137 113.2 /// +3.4 +13.1
Eggs 15 256.0 +22.0 +102.1 +69.2
  • * cf. methodological note
  • /// Absence of meaning due to the nature of these series
  • (1) Including vegetables for industry.
  • (2) The October value of cow milk price index has been carried forward in November. The previous month variation is the one commented in the text : +15.4% over one year in October 2017.
  • Sources: INSEE, SSP (ministry in charge of agriculture)

Increase in purchase prices of means of production

Intermediate consumption prices rose moderately in November 2017 again (+0.3% as in October). Over a year, they increased by 1.4%. Energy prices accelerated: +3.0% in November after +1.7% in October. They gained 10.7% over a year. Fertilizers and amendments prices went up by 0.9% over one month while animal feeds prices decreased by 0.5%. Capital goods prices were stable in November and grown by 2.1% over one year.

Revision

The variation over one year of IPPAP has been rosen by 0.2 points in October 2017 to +0.5%; that of IPAMPA has been rosen by 0.1 point at +1.3%.

Graph4 – Purchase prices of the means of agricultural production

  • Sources: INSEE, SSP (ministry in charge of agriculture)

table2 – Indices of purchase prices of the means of agricultural production (IPAMPA)

Raw data - base and reference 100 in 2010
Indices of purchase prices of the means of agricultural production (IPAMPA)
Variation as % over
Weights Nov 2017 a month 3 months a year
Total input 1000 107.7 +0.2 +0.8 +1.5
Intermediate consumptions 764 107.0 +0.3 +0.9 +1.4
Energy 100 104.5 +3.0 +8.0 +10.7
Seeds 57 106.1 0.0 –0.1 –1.0
Fertilisers and soil improvers 92 101.7 +0.9 +4.5 +3.8
Plant protection products 78 97.7 –0.4 –0.2 –1.3
Animal feed 205 110.7 –0.5 –1.8 –1.2
Veterinary expenses 43 120.0 –0.2 +0.3 +1.1
Small equipment and tools 17 107.8 +1.0 –0.2 –0.7
Maintenance of materials 67 116.1 +0.1 +0.2 +2.1
Maintenance of buildings 9 109.2 0.0 0.0 +1.8
Other goods and services 97 102.1 0.0 –0.1 –0.1
Goods and services contributing to investment 236 110.2 0.0 +0.6 +2.1
Material 186 111.4 +0.1 +0.8 +1.8
Tractors 79 114.4 –0.2 +1.6 +4.0
Machinery and equipment for cultivation 36 112.0 0.0 +0.2 +1.2
Machinery and equipment for harvesting 42 109.9 +0.2 +0.5 +0.1
Utility vehicles 18 104.0 +0.2 –0.8 –1.0
Buildings 50 105.8 0.0 0.0 +3.2
  • (1) The repayment of the domestic tax on energy product (TICPE) benefiting farmers has been applied in advance for the year 2017.
  • Sources: INSEE, SSP (ministry in charge of agriculture)